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Home » CITY LETS BUSINESS OUT OF AGREEMENT: Warner Electric can leave without penalty

CITY LETS BUSINESS OUT OF AGREEMENT: Warner Electric can leave without penalty

COLUMBIA CITY — A company that received financial incentives from Columbia City has been permitted to move out of city limits without penalty.Warner Electric received city CEDIT money to help finance growth in 2009. A provision of that agreement was to keep the company within the city limits.Alan Tio, president of the Whitley County Economic Development Corporation, along with a representative of the company, were on hand at Tuesday’s Common Council meeting, informing city leaders that Warner Electric would be moving to the former USSI Building, just outside of Columbia City.“The company is scheduled to report (on incentives) for the next 18 months,” Tio said. “We are asking for the release from that since the company has met its goals. “It is hoping to keep all jobs in the county and even add jobs — but in Whitley County, not Columbia City proper. We wanted to be transparent about that.”Technically, the decision to allow the company out of its agreement without penalty belongs to the investment board. To read the rest of this story, see the July 26 issue of The Post and Mail. Don't have a subscription? Call (260) 244-5153 or subscribe to our e-edition. For breaking news, sports updates and additional coverage, bookmark the homepage and find us on facebook and twitter.